Friday, July 31, 2015

Pharol will move forward with the process to the former directors – Daily News – Lisbon

Decision to process antuigos directors of PT SGPS Zeinal Bava and Henry Grenadier was voted on Friday in General Assembly Pharol and had almost 100% of the vote.

The vote was massive with only 11300 votes against. The Hi abstained from voting, but not New Bank, contrary to what the intended representative of Henry Grenadier, was not prevented from doing so.

​​Read more at its economy brand


The general meeting of shareholders convened to Hi 1 September – Destak

The Pharol SGPS, formerly PT SGPS, today announced it is convened for September 1 the general meeting of shareholders of Hi telecommunications company to implement the reorganization measures of the Brazilian company.

National Telecommunications Agency (Anatel), Brazilian regulator approved on Thursday the proposed new statutes sent by Hi as a result of the agreements signed between the Brazilian company and Pharol on 31 March.

“Thus, once fulfilled the prerequisite communicated to the market by Pharol last day July 22, 2015, the Hi proceed immediately convene an extraordinary meeting of shareholders for the day September 1, 2015,” said the Pharol in statement filed with the Securities Market Commission (CMVM).


Pharol approval processes to former directors with nearly 100% of the votes – publico





The shareholders present at the general meeting of Pharol SGPS approved this Friday, with nearly 100% of the votes, the opening of proceedings against the former managers of the company (at the time, PT) that had been linked to investments in Spirit Group Santo (GES), including exposure of almost 900 million euros to Rioforte.


                         Earlier, Henry Grenadier lawyer presented an application for suspension of the meeting that is intended to vote in opening proceedings against the former company managers involved in investments in GES debt instruments.

For the voice of attorney Nuno Monteiro Lebanon, Henry Grenadier, former president of the PT and the likely target in any procedures sought thus postpone the decision of shareholders, knew PUBLIC next shareholder source.

The justification for this proposal, voted and sinker for more than 99% of the votes (43% of share capital represented), was based on the lack of information and illegalities in the process.

At the same meeting, which began shortly after 15h, the president of Pharol SGPS, Luís Palha da Silva stressed not want the General Assembly was “a judgment”.

According to the resolution adopted today, with 99.996% of the votes present, within six months Pharol “should propose action for damages against the directors who, having served the term of 2012/2014, had direct participation in decisions investment “made with the GES, or that” because these functions, could have avoided. “

The names that have been identified as targets of future disputes in court are Granadeiro, Luis Pacheco Melo and Zeinal Bava – who had executive duties in the former PT -. and administrators BES, Amílcar Morais Pires and Joaquim Goes, who were part of the board of directors of telecom operator

But the names ever They were mentioned by the current leaders of Pharol SGPS at the meeting, not just outside. After the meeting of shareholders, Rafael Mora, representing the Ongoing and is executive director of the holding company said that the names of the targeted managers will not be released while their legal proceedings are not public. “There is the right to privacy and the presumption of innocence. When the names are the actions will soon be known,” said Mora.

Also at the end of the meeting, the president of Pharol SGPS ensured when asked about any prosecution of BES and the New Bank that “everything is open.” The former BES had the dual share ownership and financial intermediary PT.

At this time, the New Bank is the largest shareholder of Pharol SGPS, with 12.6% of capital. The holding company is the successor of PT SGPS and its sole asset a 27.5% stake in Brazilian Hi. Since the PT Portugal (where conectram all telecommunications operations) was sold by the French Altice Hi, who took over management in June.

In general meeting of Pharol SGPS were present (or represented) shareholders holding 43% of the share capital with voting rights.



REN’s profit increases 29.2% in the first half – TVI24

REN closed the first half with a profit of 75.3 million euros, 29.2% more than in the same period, driven by interlocking a tax credit of about ten million.

The company led by Rodrigo Costa saw net profit increase by 17 million, largely resulting from the acquisition of 9.9 million euros relating to a tax impairment which has now been recognized in the company’s accounts, even on the separation of assets between REN and EDP in 1994.

In a statement to the Portuguese Securities Market Commission (CMVM), REN further explained that the EBITDA (earnings before interest, taxes, assessments and amortization ) reached 254.3 million euros, up 0.8% on the same period in 2014, benefiting by EUR 20.1 million from the sale in the first quarter of the stake in Enagas, according to Lusa.


Henrique tries Grenadier postpone decision on processes to former managers of PT – publico



Henry Grenadier attorney presented this Friday at the general meeting of Pharol SGPS a meeting request suspension which is intended to vote the opening of proceedings against former company directors involved in investments in debt instruments of the Spirit Group Holy. Including the investment of 900 million euros in Rioforte, made public a year ago.


                         The voice of the lawyer Nuno Monteiro Lebanon, Henry Grenadier, former president of the PT and another such demand in any future proceedings thus postpone the decision of shareholders, knew PUBLIC next shareholder source.

The justification of the proposal, which has already been voted on and sinker for more than 99% of the votes (43% of share capital represented) is the lack of information and the process of illegalities.

At the same meeting, which began shortly after 15h, the president of Pharol sgps, Luís Palha da Silva stressed that you do not want the General Assembly is “a judgment”.



Unemployment in the Eurozone remains at 11.1% – Jornal de Negócios – Portugal

In June, the unemployment rate adjusted for seasonality of the 19 members of the eurozone stood at 11.1%, the same as in April and May. Also, unemployment in the EU continued in 9.6%, while in Portugal went down to 12.4%. Since the 12.7% registered in Italy represent a maximum of 38 years.

On average, the unemployment rate in the eurozone and the European Union (EU) remained If stable in June. Data released this Friday, July 31, show that unemployment in the 19 Eurozone countries remained at 11.1%, identical to the verified registration in April and May. In the same period unemployment was at 11.6%. Compared to June of last year, the total number of unemployed in the euro bloc fell by 811,000 to nearly 17.8 million people.

Also the average unemployment rate of the 28 EU countries remained at 9.6% in June this year, equal to the rate that was registered in the previous two months but less than 10, 2% recorded in June 2014. Compared to the same period, the number of unemployed persons decreased in 1.5 million people for a total of 23.3 million unemployed.

Portugal holds a 12.4% unemployment rate, the sixth highest among the 28 member states of the EU. Although unemployment has remained stable compared to May, recorded a decrease compared with the 14.3% recorded in June last year.

Back in Italy the labor market continues to worrying signs, with the rising unemployment of 12.5% ​​in May to 12.7% in June, a rate that is the highest value of the last 38 years in country.

Although Eurostat does not have data for Greece for the months of May and June, the unemployment rate of 25.6% recorded in April will certainly continue to make this country one which has a higher unemployment rate in Europe. For its part, Spain managed to slightly retreat unemployment of 22.6% in May to 22.5% in June, keeping, however, with the second highest unemployment in Europe.

At the opposite pole is still Germany, which has retained a 4.7% unemployment rate, the lowest in throughout the EU. Close remains the Czech Republic with an unemployment rate of 4.9%.

Youth unemployment with slight rise in the euro area

The number of unemployed young people (under 25 years) rose slightly in June this year compared to the previous month. Adjusted for seasonality, the youth unemployment rate rose from 22.3% in May to 22.5% in June. Still, the youth unemployment was below the 23.6% which prevailed in June 2014. In the EU 28, the youth unemployment rate continued to 20.7% for the third consecutive month. In June last year, the young average unemployment in the group of 28 was 22.1%.

Portugal still has one of the highest rates of youth unemployment, which rose in June to 31.6% in relation to 31.1% in May. However, compared to the same period a considerable decrease it appears as youth unemployment in June 2014 was at 35.3%, Eurostat data show.

Spain continues to lead the segment of youth unemployment, with a rate of 49.2%.


Eurozone unemployment rate down to 11.1% – Correio da Manhã

 Photo Edgar Martins

As for Portugal, INE reported that the unemployment rate stood at 12.4%

07/31/2015 10:19

Eurozone Unemployment rate drops to 11.1%

Eurostat data.

 By Lusa

The euro area unemployment rate stood at 11.1% in June, the same figure recorded in May and down from 11.6% in June last year, released Friday by Eurostat.

For the whole of the European Union, the European statistical office estimated in this case the unemployment rate corrected for seasonal variations was 9.6% in June. This value means that unemployment is also stable compared to the previous month but better compared to 10.2% in June 2014.

As for Portugal, the National Statistics Institute ( INE) announced on Thursday that the unemployment rate remained unchanged in June compared to May, to 12.4%.

 Be sure to follow us on Facebook.

 Send the article: Eurozone Unemployment rate drops to 11.1%